A. A custodian is entitled to reimbursement from custodial property for reasonable expenses incurred in the performance of the custodian's duties.
B. A custodian, other than one who is a transferor under § 64.2-1903, has a noncumulative election during each calendar year to charge reasonable compensation for services performed during that year.
C. Except upon petition as provided in subsection F of § 64.2-1917, a custodian need not give a bond.
1988, c. 516, § 31-51; 2012, c. 614.
Structure Code of Virginia
Title 64.2 - Wills, Trusts, and Fiduciaries
Chapter 19 - Virginia Uniform Transfers to Minors Act
§ 64.2-1901. Scope and jurisdiction
§ 64.2-1902. Nomination of custodian
§ 64.2-1903. Transfer by gift or exercise of power of appointment
§ 64.2-1904. Transfer authorized by will or trust
§ 64.2-1905. Other transfer by fiduciary
§ 64.2-1906. Transfer by obligor
§ 64.2-1907. Receipt for custodial property
§ 64.2-1909. Single and joint custodians
§ 64.2-1910. Validity and effect of transfer
§ 64.2-1911. Care of custodial property; duties of custodian
§ 64.2-1912. Powers of custodian
§ 64.2-1913. Use of custodial property
§ 64.2-1914. Custodian's expenses, compensation, and bond
§ 64.2-1915. Exemption of third person from liability
§ 64.2-1916. Liability to third persons
§ 64.2-1918. Accounting by and determination of liability of custodian
§ 64.2-1919. Termination of custodianship